Biotest AG: Abbott and Biotest Announce Global Agreement to Development and Commercialize Novel Antibody for Autoimmune Diseases
Biotest AG / Key word(s): Alliance
21.06.2011 / 15:03
Abbott and Biotest Announce Global Agreement to Development and
Commercialize Novel Antibody for Autoimmune Diseases
BT-061 in clinical development for the treatment of RA and psoriasis
ABBOTT PARK, Ill. and DREIEICH, Germany, June 21, 2011 - Abbott and Biotest
AG today announced a global agreement to develop and commercialize BT-061,
a novel anti-CD4 antibody for the treatment of rheumatoid arthritis (RA)
and psoriasis. BT-061 is currently in Phase II clinical trials for RA and
psoriasis, with preclinical studies underway to study its potential use in
other immune-related diseases.
CD4 is expressed on T-cells and is involved in T-cell mediated modulation
of immune responses. BT-061 is a humanized monoclonal antibody that works
by activating the body's T-regulatory cells, a subset of T-cells,
strengthening a natural function of the body that prevents excessive immune
reactions. Unlike other anti-CD4 antibodies that have been in development,
BT-061 does not cause depletion of CD4 positive T-cells that would give
rise to weakened immune responses.
'Though the research is still early, BT-061 has the potential to become an
important treatment option for patients suffering from autoimmune
diseases,' said John Leonard, M.D., senior vice president, global research
and development, Abbott. 'This novel compound will strengthen Abbott's
immunology pipeline and we look forward to continuing to build on our
expertise in exploring multiple mechanisms and approaches to treat
inflammatory diseases.'
'Biotest is pleased to continue the development of BT-061 together with
Abbott, one of the world leaders in the development and commercialization
of biologic drugs for the treatment of immunological diseases', emphasized
Prof. Dr. Gregor Schulz, CEO of Biotest AG. 'With its tremendous experience
in the field and its global commercial strength and presence Abbott is the
perfect partner for maximizing the therapeutic and commercial potential of
BT-061.'
Under the terms of the agreement, Abbott and Biotest will co-promote
BT-061in the five major European markets (Germany, France, United Kingdom,
Italy and Spain) and Abbott will have exclusive global rights to
commercialize BT-061 outside those countries. Biotest will receive an
upfront fee of $85MM. Pending achievement of certain development,
regulatory, commercial and sales-based milestones, Biotest would be
eligible to receive additional milestone payments from Abbott, potentially
amounting to a total of $395MM, and royalties. Biotest will be responsible
for the manufacture of initial clinical supply of BT-061 and the parties
will share responsibility for commercial production.
Biotest will hold a conference call for journalists and analysts today at 4
p.m. CET
Dial in numbers:
Germany: +49 (0) 6103 485 3000
United Kingdom: +44-207-153-2027
USA: +1 480-629-9673
Conference ID: 444 87 48
Should you experience any difficulty during the conference, please press *0
for help desk
Biotest Disclaimer
This document contains forward-looking statements on overall economic
development as well as on the business, earnings, financial and assets
position of Biotest AG and its subsidiaries. These statements are based on
current plans, estimates, forecasts and expectations of the company and are
thus subject to risks and elements of uncertainty that could result in
significant deviation of actual developments from expected developments.
The forward-looking statements are only valid at the time of publication.
Biotest does not intend to update the forward-looking statements and
assumes no obligation to do so.
About Biotest
Biotest is a provider of plasmatic and biotherapeutic drugs. With a value
added chain that extends from pre-clinical and clinical development to
worldwide sales, Biotest has specialised primarily in the areas of
application of clinical immunology, haematology and intensive medicine. In
its Plasma Protein segment, Biotest develops and markets immunoglobulins,
coagulation factors and albumins based on human blood plasma. These are
used for diseases of the immune and haematopoietic systems. In the
Biotherapeutic segment, Biotest researches into the clinical development of
monoclonal antibodies, including in the indications of rheumatoid arthritis
and cancer of plasma cells. Biotest has more than 1.600 employees
worldwide. The preference shares of Biotest AG are listed in the SDAX on
the Frankfurt stock exchange.
Abbott Forward-Looking Statements
Some statements in this news release may be forward-looking statements for
purposes of the Private Securities Litigation Reform Act of 1995. Abbott
cautions that these forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially from those
indicated in the forward-looking statements. Economic, competitive,
governmental, technological and other factors that may affect Abbott's
operations are discussed in Item 1A, 'Risk Factors,' to our Annual Report
on Securities and Exchange Commission Form 10-K for the year ended Dec. 31,
2010, and are incorporated by reference. Abbott undertakes no obligation to
release publicly any revisions to forward-looking statements as a result of
subsequent events or developments.
About Abbott
Abbott is a global, broad-based health care company devoted to the
discovery, development, manufacture and marketing of pharmaceuticals and
medical products, including nutritionals, devices and diagnostics. The
company employs nearly 90,000 people and markets its products in more than
130 countries.
Abbott's new releases and other information are available on the company's
Web site at www.abbott.com.
# # #
ABBOTT
Media: Tracy Sorrentino, +1-847-937-8712
Investor Relations: Larry Peepo, +1-847-935-6722
BIOTEST
Dr. Monika Buttkereit
phone: +49 (0) 6103 801-4406,
e-mail: investor_relations@biotest.de
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Language: English
Company: Biotest AG
Landsteinerstraße 5
63303 Dreieich
Deutschland
Phone: 0 61 03 - 8 01-0
Fax: 0 61 03 - 8 01-150
E-mail: investor_relations@biotest.de
Internet: http://www.biotest.de
ISIN: DE0005227235, DE0005227201
WKN: 522723, 522720
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
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